Economics Department

Economics, a social science, is concerned with the decisions we make to meet our material needs. Economics analyzes the production, distribution and use of goods and services in any particular society, both at the local and at the global level.

Our faculty will introduce you to microeconomics ("micro" is based on axiomatic assumptions and typically deals with the behavior of individual consumers and firms) and macroeconomics ("macro" is more holistic and institutional, and analyzes the aggregate behavior of the domestic or international economy, the role of government, business cycles, poverty, etc.) Applied economics fields include econometrics, finance, labor, environmental economics, industrial organization, public finance and development.

You'll learn how different societies organize the allocation of scarce resources among competing needs and what the consequences are for equity, efficiency and economic growth.